The backtest results show CPB has a 75% win rate with a 98.77% return over 3 days following earnings beats, but returns decrease sharply over 10 and 30 days. The 10-day win rate drops to 8.33%, with a modest 13.65% return, and no gain after 30 days. This indicates strong short-term gains that tend to fade quickly. Investors may benefit from a tactical, short-term approach, capitalizing immediately after earnings beats rather than holding through longer periods where returns diminish significantly.

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The backtest results reveal that the Food Products Industry tends to experience a negative reaction following earnings beats over the tested period. Despite expectations generally being positive, the industry showed a maximum return of only 10.42%, occurring soon after the event, indicating a muted or adverse short-term price impact. This suggests that winning earnings surprises in this sector may already be priced in or that other factors weigh down immediate gains. Investors should approach earnings beats in the Food Products Industry cautiously, considering potential short-term pullbacks despite positive surprises.

Backtest CPB Earning Beats Expectations

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